CAYCE, S.C., Aug. 16, 2018 /PRNewswire/ -- South Carolina
Electric & Gas Company (SCE&G), principal subsidiary of
SCANA Corporation (NYSE:SCG), announced today that it sold, in a
negotiated offering, a total of $700
million principal amount of its First Mortgage Bonds.
The sale consisted of $300 million
principal amount of its First Mortgage Bonds, 3.50 percent Series
due August 15, 2021 and $400 million principal amount of its First
Mortgage Bonds, 4.25 percent Series due August 15, 2028. The 3-year and 10-year
bonds sold today are initially being offered to the public at
99.997 percent and 99.750 percent respectively. Merrill
Lynch, Pierce, Fenner & Smith Incorporated, J.P. Morgan
Securities LLC, Morgan Stanley & Co. LLC, and Wells Fargo
Securities, LLC acted as joint book-running managers, and FTN
Financial Securities Corp. and Synovus Securities, Inc. acted as
co-managers for the transaction.
SCE&G intends to apply the net proceeds from the sale of the
bonds to pay $550 million of First
Mortgage Bonds with a maturity date of November 1, 2018. SCE&G may also apply the
net proceeds from the sale of the bonds to repay borrowings under a
credit agreement and other short-term debt and for general
corporate purposes.
It is anticipated that these bonds will be issued on
August 17, 2018. The transaction is
subject to normal closing conditions.
Copies of a written prospectus and related prospectus supplement
meeting the requirements of Section 10 of the Securities Act of
1933, as amended, relating to the offering of these bonds may be
obtained by contacting: Merrill Lynch, Pierce, Fenner & Smith
Incorporated, 200 North College Street, NC1-004-03-43, Charlotte, NC, 28255-0001, Attention:
Prospectus Department, telephone: 1-800-294-1322, email:
dg.prospectus_requests@baml.com; J.P. Morgan Securities LLC, 383
Madison Avenue, New York, New York
10179, Attn: Investment Grade Syndicate Desk, Telephone:
1-212-834-4533; Morgan Stanley & Co. LLC, 180 Varick Street,
New York, New York 10014,
Attention: Prospectus Department, telephone: 1-866-718-1649;
Wells Fargo Securities, LLC, 608 2nd Avenue South, Suite
1000, Minneapolis, Minnesota
55402, telephone: 1-800-645-3751, email:
wfscustomerservice@wellsfargo.com.
This news release does not constitute an offer to sell or a
solicitation of an offer to buy any of the bonds or any other
securities, nor will there be any sale of the bonds or any other
securities in any state or jurisdiction in which such an offer,
solicitation or sale is not permitted. A registration statement
relating to these bonds has been filed with the Securities and
Exchange Commission and is effective.
PROFILE
SCANA Corporation, headquartered in
Cayce, S.C., is an energy-based
holding company principally engaged, through subsidiaries, in
electric and natural gas utility operations and other
energy-related businesses. Information about SCANA and its
businesses is available at www.scana.com.
SCE&G is a regulated public utility engaged in the
generation, transmission, distribution and sale of electricity to
approximately 727,000 customers in the central, southern and
southwestern portions of South Carolina. The company also
provides natural gas service to approximately 373,000 customers
throughout South Carolina. More
information about SCE&G is available at www.sceg.com.
Media
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Investor
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Eric
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Bryant
Potter
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(800)
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(803)
217-6916
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SOURCE SCANA Corporation